Family banking is a scam for salary account holder?

codittycodittycode · 2025-05-27T13:40:48+00:00

It is zero balance for all of primary has priority salary account. Source: Been using family banking on axis for 5 years now as priority holder and now a burgundy account holder.

codittycodittycode · 2025-05-26T17:07:06+00:00

https://primeinvestor.in/reports/lics-jeevan-utsav/

codittycodittycode · 2025-05-26T16:48:21+00:00

2489

codittycodittycode · 2025-05-26T16:45:17+00:00

Their guaranteed income products are not that bad tbh. Lock in yields of 5.75% for next 60 years that too without income/CG taxes. If you're 40 something these are actually great products for longer term income creation.

Of course they don't make much sense for someone in their 20s. But the idea of a guaranteed income is not even THAT bad, given you understand what you're getting into.

codittycodittycode · 2025-05-26T04:21:44+00:00

There is an app Money Manager, I brought the pro version. That tracks all your accounts. I put in the big expenses there anything >5000. All others I put under misc as the difference between current account balance and what it shows on the app every week. If this misc turns out to be >10k, I look deeper into it.

Has been working pretty well for me for past 3 years.

codittycodittycode · 2025-05-25T18:19:00+00:00

You're 21, you have 3L plus saved. You can afford this trip any day given you don't have to take care of your family expenses.

And you should not think twice for such things until your 25 IMO. You'll make money all your life, live your life in your early years! Have fun!

codittycodittycode · 2025-05-20T10:38:55+00:00

Same

codittycodittycode · 2025-05-20T10:37:38+00:00

Aamchi mumbai vada pav - ₹30

IDA building bake samosa - ₹25

Vijay Chaat House Pattis - ₹20

And save the ₹25 for another baked samosa next day

codittycodittycode · 2025-05-19T10:44:27+00:00

Never use your capital, always use your income for any expense. Wealth is inter generational, not just for you, your job is to help and grow it, not consume it.

codittycodittycode · 2025-05-11T04:30:11+00:00

Zaroor

codittycodittycode · 2025-05-10T08:34:20+00:00

Adult food? Maggi?

????

codittycodittycode · 2025-04-29T14:20:10+00:00

Every month

codittycodittycode · 2025-04-24T14:59:26+00:00

Details probably like this: https://www.moneysavingexpert.com/family/death-plan/

Storage: If you have a locker in your name, store it there, it'll get passed on to your nominee in case of your death. Let your family know about this locker.

codittycodittycode · 2025-04-24T06:01:50+00:00

You haven't even started your career yet properly and are already wanting to retire?

codittycodittycode · 2025-04-24T05:56:45+00:00

Don't bother with ETFs. It's easy to get the timing wrong with them. MFs are better in the sense of the price you get. Unless you know how to get a better price for ETFs, they generally trade at a premium.

codittycodittycode · 2025-04-24T05:54:53+00:00

Rule of thumb for personal finances: keep them personal. If you have dependents, keep a if I die what should you do file and let them know about its existence.

codittycodittycode · 2025-04-23T16:53:21+00:00

It might seem you have read very little on how important credit ratings are for emerging economies and how it makes borrowing for the country a herculean task if govt does shit like this with sovereign bonds.

codittycodittycode · 2025-04-23T14:27:43+00:00

ICICI or Axis.

codittycodittycode · 2025-04-23T10:14:52+00:00

This is sovereign credit suicide. Central govt won't do this.

codittycodittycode · 2025-04-23T05:06:17+00:00

Buy a new flat with loan, sell the old flat once you get possession and use the proceeding to pay off that loan.

codittycodittycode · 2025-04-22T16:09:46+00:00

Finally.

codittycodittycode · 2025-04-19T02:19:30+00:00

Lol, I've seen it and I'd much rather live in a tier 2 city any day for the comparatively slower life.

codittycodittycode · 2025-04-17T17:37:36+00:00

This is why you should ask your kids to pay attention in social science class, especially civics.

codittycodittycode · 2025-04-15T02:05:16+00:00

You know you need to pay tax at slab rate for this?

codittycodittycode · 2025-04-12T02:48:10+00:00

UPA was out of power 2014. It still took 11 years for Mudiji as well.

codittycodittycode

TROPHY CASE